Exciting Possibilities in the Soup Market & Their Potential
Posted: Nov 16, 2018
North America with a major share in the Global Soup Market:
North America is projected to maintain its dominance by generating the highest revenue of $7.5billionin global soup market by 2023. The North American soup market region leads in terms of volume, with 55.9% share in 2017, and is estimated to grow at a CAGR of 0.70% during the forecast period. Rest of the World (RoW) region which includes South America, Middle East, and African regions, is projected to witness the fastest growth during the forecast period, both in terms of value and volume, with CAGR of 8.41% and 5.32% respectively. Wide varieties of soups are available in the Asia Pacific region like vegetable soups, lentil soups, and meat soups. Populated regions like China, India, Russia, and Brazil are few of the key potential countries in the soup market which will boost the global soup market.
Selected Type Analysis done in the Soup Market Report:
- Global canned/preserved soup market leads at present, attaining the maximum amount of revenue. Canned/preserved soup is estimated to reach revenue of $9.16 billion by 2023, and in terms of volume, it will reach 1,531 KGM with a CAGR of 2.09% and 1.30% respectively during the forecast. Canned soups are available in two forms: condensed and ready to eat. In both the forms, the content can be vegetarian and non-vegetarian. This is followed by dehydrated soup, produced by leading brands likeKnorr (Unilever) and Maggi (Nestlé).In order to increase the shelf-life of these products, various manufacturers are using innovative packaging materials, thus propelling the demand for dehydrated soup market. The dehydrated soup market is estimated to reach revenue of $5.6 billion by 2023 and 541 KGM with a CAGR of 5.29% and 4.57% respectively during the forecast period.
- Frozen soups comprise of ingredients like fatty acids, natural colors, natural flavors, high-intensity sweeteners (HIS) and flavoring. Asian consumers prefer frozen soup to another type of soups due to the hot weather conditions. Innovation in selecting healthy ingredients and regional tastes or flavors will increase the demand for a healthy frozen soup market.It is followed by instant soup market, which is the easiest to prepare. Instant soup undergoes primary and secondary packaging.
- The market is estimated to reach a revenue of $1.6 billion by 2023. Chilisoupare consumed either by heating or are refrigerated. The limited shelf life of these products is one reason why the chili so upmarket is dominated by local producer and is typically packed in cartons, glass or pouches. UHT soup contains pieces of meat and vegetables, which is a bit difficult to maintain due to which the adoption rate is quite less as compared to others.
Excerpts on Soup Market Growth Factors:
- The availability of departmental store and supermarket will influence the customers to select this distribution channel and thereby contributing major share during the forecast period.
- Growing demand for natural and organic soup is triggering the growth in the global soup market.
- Increasing desire of low-class and middle-class individuals to purchase products cheaply will bolster the growth of discount store market by volume.
- 24 hours availability of these store services will appeal to the night shift workers for the purchase of easily made products like soups, broth and so on.
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Key players of the Global Soup Market
Major players in the global soup market are Campbell Soup Company, General Mills, Unilever PLC, H.J. Heinz Company others. In the dehydrated soup market, the leading brands include Knorr (Unilever) and Maggi (Nestlé). The leading global brands of frozen soups include Findus (Unilever) and Bofrost (Bofrost). Chilled soups include New Covent Garden (Daniels) and Meiraku(Meiraku) and Liebig (Campbell Soup).
Global Soup Market report is segmented as below
The Global Soup Market study across various end user industries is incorporated in the report:
A. Soup Market By Type
- Canned/Preserved Soup
- Dehydrated Soup
- Frozen Soup
- Instant Soup
- Chilled Soup
- UHT Soup
B. Soup Market By Trademark Owner
- Brand Manufacturer
- Private Label
C. Soup Market By Packaging Type
D. Soup Market By Distribution Channel
- On Trade
E. Global Soup Market by Geography (covers 10+ countries)
F. Global Soup Market Entropy
Companies Cited / Interviewed in Soup Market:
- Spar Group Ltd.
- Midland Food Group
- Ajinomoto Co., INC.
- The Distributor
- Gordon Food Service
- Company 9
- Company 10
- Company 11+
What can you expect from the report?
The Global Soup Market Report is Prepared with the Main Agenda to Cover the following 20 points:
- Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
- Market trends & Relevant Market Data 12. Country level Analysis
- Manufacturer Landscape 13. Competitor Analysis
- Distributor Landscape 14. Market Shares Analysis
- Pricing Analysis 15. Value Chain Analysis
- Top 10 End user Analysis 16. Supply Chain Analysis
- Product Benchmarking 17. Strategic Analysis
- Product Developments 18. Current & Future Market Landscape Analysis
- Mergers & Acquisition Analysis 19. Opportunity Analysis
- Patent Analysis 20. Revenue and Volume Analysis
Frequently Asked Questions:
Q. Does IndustryARC publish country or application based reports in Global Soup Marketsegment?
Response: Yes, we do have separate reports as mentioned below:
- Americas Global Soup Market Share (2018-2023)
- Asia Pacific Global Soup Market Growth (2018-2023)
- Europe Global Soup Market Analysis(2018-2023)
- Global Soup Type Market Insights(2018-2023)
- Packaging Type Global Soup Market (2018-2023)
- Distribution Channel Global Soup Market (2018-2023)
Q. Does IndustryARC provide customized reports and charge additionally for limited customization?
Response:Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
- Increase the level of data in application or end user industry.
- Increase the number of countries in geography chapter.
- Find out market shares for other smaller companies or companies which are of interest to you.
- Company profiles can be requested based on your interest.
- Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
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IndustryArc is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation